Assenagon Asset Management S.A. Buys 12,755 Shares of HCI Group, Inc. (NYSE:HCI)

Assenagon Asset Management S.A. boosted its holdings in shares of HCI Group, Inc. (NYSE:HCI) by 56.5% during the third quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission (SEC). The institutional investor owned 35,315 shares of the insurance provider’s stock after buying an additional 12,755 shares during the period. Assenagon Asset Management S.A. owned about 0.34% of HCI Group worth $3,781,000 as of its most recent SEC filing.

Several other hedge funds have also recently added to or reduced their stakes in the business. Point72 DIFC Ltd acquired a new position in HCI Group in the second quarter valued at approximately $26,000. Gladius Capital Management LP bought a new position in HCI Group in the second quarter valued at $31,000. GAMMA Investing LLC grew its position in HCI Group by 80.9% in the third quarter. GAMMA Investing LLC now owns 398 shares of the insurance provider’s stock valued at $43,000 after purchasing an additional 178 shares in the last quarter. CWM LLC grew its position in shares of HCI Group by 115.4% in the 2nd quarter. CWM LLC now owns 924 shares of the insurance provider’s stock valued at $85,000 after acquiring an additional 495 shares during the period. Finally, SageView Advisory Group LLC bought a new position in shares of HCI Group in the 1st quarter valued at about $219,000. Institutional investors and hedge funds own 86.99% of the company’s stock.

HCI Group Stock Down 0.7 %

Shares of NYSE HCI opened at $115.34 on Thursday. HCI Group, Inc. has a 12 month low of $57.12 and a 12 month high of $124.00. The company has a current ratio of 0.44, a quick ratio of 0.44 and a debt-to-equity ratio of 0.41. The firm has a market capitalization of $1.21 billion, a price-to-earnings ratio of 11.73 and a beta of 1.13. The business has a 50-day moving average of $105.60 and a 200-day moving average of $100.32.

HCI Group (NYSE:HCI) last announced its quarterly earnings data on Thursday, August 8th. The insurance provider reported $4.21 earnings per share for the quarter, beating the consensus estimate of $3.58 by $0.63. The firm had revenue of $206.25 million during the quarter, compared to the consensus estimate of $196.67 million. HCI Group had a return on equity of 44.01% and a net margin of 21.63%. During the same quarter in the previous year, the company posted $1.22 earnings per share. Sell-side analysts expect that HCI Group, Inc. will post 6.15 earnings per share for the current fiscal year.

HCI Group Dividend Announcement

The firm also recently disclosed a quarterly dividend, which will be paid on Friday, December 20th. Investors of record on Friday, November 15th will be given a dividend of $0.40 per share. The ex-dividend date is Friday, November 15th. This represents a $1.60 annualized dividend and a dividend yield of 1.39%. HCI Group’s dividend payout ratio (DPR) is presently 16.28%.

Wall Street Analyst Weigh In

Several analysts have weighed in on HCI shares. Compass Point reiterated a “neutral” rating and issued a $120.00 price objective (up previously from $119.00) on shares of HCI Group in a research note on Monday, October 21st. JMP Securities reiterated a “market outperform” rating and issued a $145.00 target price on shares of HCI Group in a report on Tuesday, October 15th. Finally, StockNews.com lowered HCI Group from a “buy” rating to a “hold” rating in a research note on Friday, August 2nd. Two investment analysts have rated the stock with a hold rating and four have assigned a buy rating to the company’s stock. Based on data from MarketBeat, the stock currently has an average rating of “Moderate Buy” and an average target price of $129.25.

About HCI Group

HCI Group, Inc, together with its subsidiaries, engages in the property and casualty insurance, insurance management, reinsurance, real estate, and information technology businesses in Florida. It provides residential insurance products, such as homeowners, fire, flood, and wind-only insurance to homeowners, condominium owners, and tenants for properties, as well as offers reinsurance programs.